ACC 225 Week 2 CheckPoint - E. To increase Fees Earned -...

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QS 2-3: Indicate whether a debit or credit decreases the normal balance of each of the following accounts: A. Office Supplies - Credit B. Repair Services Revenue - Debit C. Interest Payable - Debit D. Accounts Receivable - Credit E. Salaries Expense - Credit F. Owner Capital - Debit G. Prepaid Insurance - Credit H. Buildings - Credit I. Interest Revenue - Debit J. Owner Withdrawals - Credit K. Unearned Revenue - Debit L. Accounts Payable - Debit QS 2-4: Identify whether a debit or credit yields the indicated change for each of the following accounts: A. To increase Store Equipment - Debit B. To increase Owner Withdrawals - Debit
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C. To decrease Cash- Credit D. To increase Utilities Expense - Debit
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Unformatted text preview: E. To increase Fees Earned - Credit F. To decrease Unearned Revenue - Debit G. To decrease Prepaid Insurance - Credit H. To increase Notes Payable - credit I. To decrease Accounts Receivable - Credit J. To increase Owner Capital - Credit QS 2-5: Identify whether the normal balances (in parenthesis) assigned to the following accounts are correct or incorrect: A. Office Supplies (Debit) - Correct B. Owner Withdrawals (Credit) - Incorrect C. Fees Earned (Debit) - incorrect D. Wages Expense (Credit) - Incorrect E. Cash (Debit) - Correct F. Prepaid Insurance (Credit) - Incorrect G. Wages Payable (Credit) – Correct H. Building (Debit) - Correct...
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This note was uploaded on 02/21/2012 for the course ACC 225 acc 225 taught by Professor Unknown during the Spring '10 term at University of Phoenix.

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ACC 225 Week 2 CheckPoint - E. To increase Fees Earned -...

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